Question: . What is the value of average fixed cost when labor input is 3? Show work if you can a. $2 b. $4 c. $6

. What is the value of average fixed cost when labor

. What is the value of average fixed cost when labor input is 3? Show work if you can

a. $2 b. $4 c. $6 d. $8 e. $10

The only variable input is labor while the amount of capital used is fixed and its cost shown in table as fixed cost Variable cost only comes from labor with cost per unit shown in table All output can be sold at prices shown in table nput output Marginal Physical Fxed Vaniable Total Avg Fxed Ag Vanable Ag Total Marginal Cost Price Total Revenue Marginal Proft Unit cost-$15 Product (MPP) of Labor Cost Cost Cost Cost Cost(MC) Revenue 50 21 20 19 4 10 5 13 6 15 15 15 14 13 16 817

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